Long considered flashes in the pan, memecoins continue to surprise. These cryptos with a light appearance go on a roller coaster, oscillating between euphoria and calm, captivating amateurs and skeptics. November marked a turning point with impressive gains, led by memecoins and supported by other major altcoins. VanEck highlights this meteoric rise, which is redrawing the contours of the crypto market.
Solana and cryptos even at the top
The month of November was triumphant for the price of Solanawhich recorded an increase of 42%reaching an all-time high at $262. But the spotlight goes to memecoinsof which on-chain activity exploded by 95 %boosting the volumes of decentralized exchanges. Solana generated $177 million in revenuethus doubling its previous monthly record.
Notable income:
- Jito: $185 million thanks to arbitrations;
- Pump.fun: $92 million via memecoins.
Solana didn't stop there: the wallet Phantom has become the number 1 free utility app on Appleand Robinhood relaunched SOL trading. The imminent airdrop of the NFT marketplace Magic Eden promises to further intensify activity.
Enough to consolidate Solana's position as a flagship ecosystem for meme cryptos.
Cardano, Polkadot and the altcoin renaissance
Cardano, with a rise of 201%shone among altcoins. Behind this ascension, major announcementslike the creation of a crypto policy office in Washington by Charles Hoskinsongalvanized investors.
On-chain governance and a total value locked (TVL) up 180% demonstrate the renewed appeal of Cardano, although it still has a way to go to compete with Ethereum.
Polkadotoften underestimated, surprised by bouncing back thanks to initiatives like Mythos Chaindedicated to gaming. Gavin Wood, its founder, is banking on a more agile architecture to improve interoperability. Despite persistent technical challenges, Polkadot could become a serious alternative to other giants of the crypto market.
Memecoins, although popular, don't just have fans. Changpeng Zhao (CZ) of Binance did not mince his words in criticizing their lack of seriousness, while Dan Finlay of MetaMask sees them as a hindrance to Web3. So, jewelry or balls? The debate remains open.
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